232 W 40th Place, Los Angeles, California 90037, Los Angeles, 90037 - 7 bed, 4 bath
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232 W 40th Place
Los Angeles, California 90037
ACTIVE
CONDITION: EXCELLENT
7Beds
4Baths
2,060Sq Ft
6,529Lot Size
Property Price
LIST PRICE$1,150,000
EST. MARKET VALUE
$1,096,200
4% AboveMARKET VALUE
SUMMARY
This Permitted Duplex represents a Strong Value Opportunity, listed at $1,150,000—positioned well above the $1,093,820 Fair Market Value. While the list price reflects a premium, the property’s Mint Condition Rating—following a complete high-end renovation—minimizes immediate capital expenditure. Featuring 7 bedrooms and 4 bathrooms, this asset offers exceptional versatility for multi-generational living or high-yield rental income near USC. With its strategic location and flexible bonus space, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-generating residence in Los Angeles.
Estimated Market Value
$1,096,200
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 232 W 40th Place Subject 7 bd · 4 ba · 2,060 sqft · $532 | $1,150,000* List Price | 7 | 4 | 2,060 | $532 | - |
A 326 -328 W 47th Sold 0 bd · 0 ba · 1,738 sqft · $532 · 0.6 mi | $925,000 | 0 | 0 | 1,738 | $532 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1916, the property has undergone a complete high-end renovation within the last 5 years. The interior features a modern kitchen with custom cabinetry and stainless steel appliances, updated bathrooms with contemporary tile and vanities, new flooring, recessed lighting, and new windows throughout. The exterior shows fresh paint and new hardscaping, indicating mint condition with no immediate maintenance required.
PROSSTRENGTHS & OPPORTUNITIES
- High Income Potential
As a permitted duplex featuring seven bedrooms and four bathrooms, this property offers exceptional versatility for multi-generational living or significant rental income generation.
- Strategic Location
The property's proximity to USC, Downtown Los Angeles, and major entertainment hubs ensures high demand from a diverse tenant pool, including students and professionals.
- Flexible Bonus Space
A dedicated bonus/flex room provides valuable options for a home office, gym, or potential conversion into additional living area, subject to local approvals.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 4.
- Historic Property Maintenance
Originally constructed in 1916, the home may necessitate more frequent maintenance or upgrades to its aging structural and mechanical systems compared to newer builds.
- Recent Price Appreciation
The property has seen a substantial increase in list price over a short period, which may lead to closer scrutiny regarding the quality of recent renovations and appraisal value.
About 232 W 40th Place
LIVE IN ONE. RENT THE OTHER. CREATE EVEN MORE POSSIBILITIES. Welcome to 232 W 40th Pl, a rare Los Angeles opportunity offering the space, flexibility and income potential today's buyers are searching for! This permitted duplex delivers multiple living areas under one property, making it an excellent option for an owner-occupant, investor, large or multigenerational family looking to maximize the possibilities of their real estate. With approximately 2,407 sq. ft. of living space on a 6,529 sq. ft. lot, the property offers generous room to live, entertain and generate income. The flexible layout allows you to occupy one unit while renting the other, accommodate extended family, or build an investment strategy around multiple living spaces. And there's more — a bonus room/flex space creates even more possibilities. Think home office, gym, game room, creative studio, entertainment space or, subject to applicable approvals and requirements, explore its potential for additional rental income. Located minutes from USC, Downtown Los Angeles, major freeways, shopping, dining and some of LA's biggest sports and entertainment destinations, this is the type of property that gives buyers something increasingly difficult to find: OPTIONS. Whether you're looking for a place to call home, an investment property, or a combination of both, 232 W 40th Pl deserves to be seen in person. Don't just buy a home — buy a property that can work for you. Schedule your private showing today.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1916
- Lot Size
- 6,529 Sq. Ft.
Interior
- Total Bedrooms
- 7
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 4.5 |
| Baths | 4.0 | 2.9 |
| Square foot | 2,060 | 2,090.331 |
| Lot Size | 6,529 | 5,852.908 |
| Price | $1.15M | $830.9K |
| Price per sq ft | $558 | $394 |
| Built year | 1916 | 1928 |
| HOA | $0 | $0 |
| Days on market | 65 | 87 |
Pricing History
Listed for Sale
Sep 5, 2026
$1,150,000
Initial Listing
Sold
Aug 26, 2024
$363,000
Public Record
Sold
Mar 11, 2024
$828,000
Public Record
Sold
Oct 16, 2002
$175,000
Public Record